The CEO of Tesla motors, Elon Musk, released more details about the much anticipated Tesla S sedan. The sticker price will be $57,499, which is about half the price of the $109,000 Roadster model. The government tax credit for electric vehicles brings the price down to $49,999. “If you take into account the $10,000 to $15,000 you might spend on gas with a conventional car, the Model S drops to $34,000 to $39,000,” says Musk.

Tesla hopes to have a running prototype by the end of February 2009, and the production model should be ready in 2011.